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Finance & Budgets Made Easy for Non-Financial Managers

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Mikono Speakers International

Senga Road

Dar es Salaam, Kinondoni

Tanzania, United Republic of

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Program Description

This three-days overview course has won praise for the straightforward way in which it untangles the web of mystery that surrounds financial and management accounting in the eyes of many non-financial managers. By so doing it enables them to understand and manage the impact of their decisions on business results, interact more productively with their finance-based colleagues and exert greater influence on decision making in their organization

Suitable for managers who want to gain a clear understanding of the fundamentals of business finance and the financial implications of decisions they make.

Course Outline

Day One

The Nature and Purpose of Accounting

  • A simple model of an organisation’s accounting framework
  • Who uses the accounts and what do they use them for?
  • Where can I find out about my organisation’s/my competitors’ financial position?

Profit and Loss Accounts, Balance Sheets and Cash Flow Statements

  • Their structure and terminology, what they tell us and why they need to be reviewed together to gain a full understanding of business performance
  • Using financial information as a management tool
  • Understanding how operational income and costs are accounted for and the implications for how you manage costs in your department

Day Two

Managing Finance

  • Understanding working capital: What is it? How can we manage it?
  • Why too much working capital is bad for you and too little may be disastrous
  • Optimising working capital for your organisation and the implications for negotiating with customers and suppliers
  • The distinction between profit and cash flow
  • Considering sources of funding

Day Three

Understanding Management Accounting Including Budgeting

  • Putting together a robust budget
  • Negotiating budget funding
  • Assessing variances and reforecasting the budget
  • Evaluating feasibility of operational projects via break-even analysis
  • The effects of depreciation

Personal Development

  • Formulating an action plan

By the end of this course you will be able to:

  • Understand how your day-to-day decisions impact profit and cash flow.
  • Demystify the rules of capital expenditure vs operational expenditure helping you to justify investments to your senior managers and finance team.
  • Review financial information relating to:
    • your business (helping you to set targets for improvement)
    • your subsidiaries (helping you to manage and set targets for your team)
    • existing customers (are they still viable?) and potential customers (are they a credit risk?)
    • competitors (what can we learn from benchmarking their results?)
  • Manage the budgeting process to:
    • ensure business strategy is implemented
    • negotiate funding for improvement or efficiency initiatives
    • win in the negotiation over funds allocated to your budget, ensuring it’s achievable
    • manage financial performance, understanding variances and taking action to achieve your budget and objectives
  • Simply assess the viability of entering new markets or developing new products.

Registration: 8.30 – 9.00 a.m.
Class Session: 9.00 a.m. – 4.00 p.m.

Venue: Mikono Speakers Training Academy

Course Duration: 3 days (03rd-05th October)

Course Fee: 900,000TSh (Per Person)

(including coffee breaks and a buffet lunch daily)

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Location

Mikono Speakers International

Senga Road

Dar es Salaam, Kinondoni

Tanzania, United Republic of

View Map

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